Microsoft made the announcement at Comic-Con International earlier today. The price cut will be in place by Monday 1st August, with the five movies promotion running until 30th September. US buyers will be able to pick five movies from a list of 15 as part of a mail-in offer.

A raw deal?

UK consumers may not be so lucky. A Microsoft UK spokesperson said: "We currently have no announcements to make at this stage regarding a price cut of the Xbox 360 HD DVD player for the UK." Matthew Clapham